Birka Energi acquires Arvika Energi AB

Thu, Feb 03, 2000 13:47 CET

Birka Energi acquires Arvika Energi AB
Arvika local authority and Birka Energi AB have signed a letter of intent
regarding the transfer of shares in Arvika Energi AB, a company with
approximately 10,000 customers, electricity sales of just over 100 GWh and
an annual production of 18 GWh. The total purchase price for the shares is
SEK 33 million.
The agreement also gives Arvika local authority the option to sell Arvika
Elnät AB to Birka for a fixed price, while Birka, in return, has a
redemption right on the shares. The letter of intent is valid until the
end of February this year, before which time it will be replaced by a
definitive agreement.
Birka Energi is one of Scandinavia's largest energy companies with approx.
840,000 customers, electricity sales of 27 TWh, heating sales of 8 TWh and
a turnover of approx. SEK 13 billion. The city of Stockholm and Fortum Abp
each own 50% of Birka Energi.
For further information contact:
Gunnar Tidemand, President Arvika Energi AB, tel +46 570 81692, or 070 627
2703
Gustav Sandström, Head of Business Development Birka Energi AB, tel +46 8
671 79 34 or 070 329 7000
Merril Boman, Vice President Communications Birka Energi AB, +46 8 671 79
51 or 070 590 7975
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